This excerpt taken from the GE 8-K filed Oct 20, 2008.
A. The Company. As of the date hereof, the Company has 13,200,000,000 authorized shares of Common Stock, $0.06 par value per share (“Common Stock”), and 50,000,000 authorized shares of Preferred Stock, $1.00 par value per share (“Preferred Stock”).
B. The Issuance. The Company intends to issue in a private placement 30,000 shares of its 10% Cumulative Perpetual Preferred Stock, Series A (the “Preferred Shares”) and a warrant to purchase 134,831,460 shares of its Common Stock (the “Warrant” and, together with the Preferred Shares, the “Purchased Securities”) and the Investor intends to purchase from the Company the Purchased Securities.